Friday, June 5, 2009

Sold out of my ANDE calls

TGIF,

I sold out of my ANDE Dec 09 $30 calls today at $4.5. I believe (not sure) that I picked these up at $ 2.6 a couple of weeks ago (I think...). The calls were up close to 73%. My plan was to sell when the stock approached $30. I am still bullish on ANDE in the long-run but wanted to lock in some profits today. I will continue to watch this hot stock... I'm watching the SP-500 chart to see if we can break the 200MA . Today's action looks like the market's conflicted... with the bulls taking charge we'll see if we can finish strongly or if people will be taking profits into the weekend.

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